The American Club 2018/2019 Annual Report
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME Year ended 30 June 2019
2019
2018
Operating fund $
Capital fund $
Operating fund $
Capital fund $
Total $
Total $
Note
Income
Food and beverage
7,115,713
-
7,115,713 7,009,719
-
7,009,719
Member activities
3,342,254
-
3,342,254 3,093,109
-
3,093,109
Club services
4,500,866
-
4,500,866 4,405,102
-
4,405,102
Membership dues
14 7,676,169
-
7,676,169 7,731,956
-
7,731,956
Entrance fees
-
2,854,536 2,854,536
-
4,131,787
4,131,787
Net investment gain 15
-
553,420 553,420
-
759,512
759,512
Allocation from Capital Fund
1,600,000 (1,600,000)
-
1,600,000 (1,600,000)
-
Other income
16 1,556,184
-
1,556,184 1,730,528
-
1,730,528
Total Income
25,791,186 1,807,956 27,599,142 25,570,414 3,291,299 28,861,713
Expenditure
17
Food and beverage
12,064,385 1,073,293 13,137,678 10,762,187
911,238 11,673,425
Member activities
4,640,655
1,791,923 6,432,578 4,528,557
1,167,227 5,695,784
Club services
4,254,157
214,948 4,469,105 4,203,773
548,253 4,752,026
Facilities, front office and
11,833,872
1,403,811
13,237,683 10,406,336 1,419,818 11,826,154
administration
Membership and marketing
1,277,206
11,854 1,289,060 1,158,031
7,083
1,165,114
Total expenditure
34,070,275 4,495,829 38,566,104 31,058,884 4,053,619 35,112,503,
Loss before tax
(8,279,089) (2,687,873) (10,966,962) (5,488,470)
(762,320) (6,250,790)
Income tax expense 18
-
-
-
(110,267)
-
(110,267)
Loss net of tax
(8,279,089) (2,687,873) (10,966,962) (5,598,737)
(762,320) (6,361,057)
See accompanying notes to financial statements.
31
The American Club 2018/19 ANNUAL REPORT
Made with FlippingBook - Online magazine maker